Market Scope
Market Research Future (MRFR) reveals different factors that can bolster the expansion of the shunt capacitor market through the analysis period. Different forces that can manipulate the shunt capacitor market are elaborated and a special analysis of the influence of COVID 19 on the shunt capacitor market is presented. As per MRFR data, the shunt capacitor global market is likely to thrive at 6.72 CAGR across the analysis period. The valuation of the shunt capacitor market can touch USD 893.8 million on the conclusion of the review period.
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Key Players
The Key Players of global shunt capacitor market are ABB Ltd. (U.S.), Schneider Electric (France), General Electric Company (U.S.), Siemens AG (Germany), Larsen & Toubro Ltd (India), Eaton Corporation Plc (Ireland), Aerovox Corp. (U.S.), Magnewin Energy Private Limited (India), CIRCUTOR, SA (Spain), Energe Capacitors Pvt Ltd (India) and others.
Market Segmentation
The segment analysis of Shunt Capacitor Market is done by voltage and end-user.
The voltage based segments of the shunt capacitor market are medium voltage, low voltage, and high voltage. The High Voltage segment can acquire about 63.47% share of the global market. The voltage based segment of the market can churn USD 362.3 Million revenue by the end of the analysis period. These growing awareness about thermal shock performance and excellent reliability of shunt capacitor can impel the expansion of the market across the analysis period. The Medium Voltage segment can rise at 5.79% CAGR in the years to come. The segment is expected to generate USD 135.9 Million by the end of the review period. The surge in Medium Voltage shunt capacitors installation to meet energy requirements of individuals across the globe can promote the rise of the market.
The end user based segments of the shunt capacitor market are Industries, Utilities, and Others. The Utilities segment can rise at 56.30% CAGR through the analysis period. The shunt capacitor market can value USD 321.4 Million across the review period. The increased facilities of Shunt capacitors to prevent damages for critical and expensive equipment can impel the rise of the shunt capacitor through the analysis period. The increased need for electricity and rise in the number of substations can impel the expansion of the shunt capacitors market thorough the review period
Regional Analysis
Asia Pacific shunt capacitor market held 41.30% share of the global market in 2016. The shunt capacitor market in APAC is expected to thrive at 7.34% CAGR in the analysis period. The regional market can value at USD 235.7 Million through the study period. The rise in demand for energy among the expanding population can promote the regional market. The inclination of people towards improved lifestyle can impel the expansion of the region market. India is expected to thrive in years to come.
In Europe, the shunt capacitor market can value at USD 151.0 Million on the conclusion of the study period. The intensifying cross-border interconnections is creating the demand for transmission and distribution (T&D) equipment, which can support the rise of shunt capacitor market across the European region. Interconnected grid development for effective transmission of electricity can spur the regional market.
North America shunt capacitor market can rise at high pace and garner USD 112.2 million by the end of the study period. The growing demand for replacing old infrastructure and related initiatives launched by governments can promote the expansion of the regional market across the study period. MEA shunt capacitor market can garner USD 39.3 Million in the review period. The shunt capacitor market in MEA can rise at 5.84% CAGR in the review period.
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